Member Info for Cebo-456

Mirasol "every month we see big and medium sized companies sell out" - nonsense.
BP may have diversified in the North Sea but have and shell have spent tens of billions of dollars developing the UKCS over the last decade and continue to do so.
The Chinese pulling out will have no impact on production - the assetts will still produce the same hydrocarbons so S&D and the PoO will not be effected by this decision.

The company are required to release news such as the FPSO contract as soon as reasonable practical - It was probably signed Friday morning so needed releasing when it was - the BP cash advance and credit agreement would have been subject to the FPSO staying in situ - so it would have been pointless agreeing the BP facility or releasing this news before the FPSO contract was secured.

The late RNS would have caught quite a few out with many not seeing it till after the market closed - so the SP on Monday will depend how the market view the news - particularly where the CEO mentions that further investment is being considered both on their own acerage or elsewhere in the UK O&G sector. - does this somehow tie in with BP's Cash Advance facility??? - why has BP agreed to this and why may it be needed???? - the Andrew feild is one that BP seem open to letting go, or they were a couple of years back, as is the Foinavon as previously discussed - I suspect that a deal for either would have relatively minimum upfront cost to the purchaser.
There may be some even bigger news on the way very soon.

Come on guys, there is as much chance of Hurricane investing in Pizza Hut as Angus Energy. The next move should be to get the GWA drilled this year.

Yep, seen

CRS hold a lot of the cards but even they would struggle to get enough of the remaining shareholders to sell in order to buy the company as you suggest. Anyone else trying to build a decent stake in the open market would send the SP soaring. RB at CA would demand a huge premium for their shares, and whoever bought them would then have to offer the same (highest) price to all other shareholders. I personally do not believe CRS would have sold out before the Ukrainian crises for less than 20p per share - now with the Oil Price set to possible top $120 and then some for the rest of the year - and the focus back on the North Sea and the UKCS - i think RB will want a whole lot more more for their 29%.
Of course RB has sounded out potential buyers and could well facilitate any takeover - but I expect it to be at least treble what the SP is currently.
Once the bond holders are history, the Company do not need to consult them before signing the AM BB Charter extention, or spending cash securing a drilling rig or any forward plan. The last offload means the Company can be debt free and Bond free by month end, and still have circa $30million in the pot - whilst currently producing a million $ worth of oil every day. When that happens, the rest of the news should follow in quick succession.

Apache, yes it has or had a gas solution as it was tied into the WoSP, but it certainly doesn't have a nice new PFSO. The fionavon is a rust bucket - it is still on location, although production was shutdown for the final time end 2021 - and will be towed away and scrapped in the next few months if they can get it prepped . BP are unsure how much oil is still recoverable but its thought to be a lot more than the 200mil barrels stated.
Those thinking that the Foinavon wells could be hooked up to the Aoka Mizu are kidding themselves - if this was worth doing then BP would have hooked them up to the Glen Lyon which currently has enough spare capacity.
It could mean that whoever decides to take the foinavon wells off BP, could potentially look at aquiring the whole of hurricane's acerage - another reason why Hurricane need to hang onto the GWA license this year.

As per my post yesterday before this mornings RNS, I believe Suzy is a great Scientist & CEO - I just have no faith in the Yank consortium as a partner, more so after again missing the second deadline to raise what should be a relatively small amount. If they prove me wrong then I will look at taking a position here again, as long term this should be a very decent investment - But I do hope that Val have a back-up plan for 201 if they Yanks bale out or Suzy sends them packing after more time wasting. I don't believe that there is any rush to raise funds as some have suggested and pretty sure Suzy shall cover this on her Q&A session on the 6th.

I have full faith in Suzy, not so much with the Yank consortium - if they have raised the cash that they want to then I will jump back in, no doubt at a substailly higher price than now. If the Yanks do not manage to raise the money by the End-stop date then the drop will obviously be over-done presenting huge buying opportunities and I will potentially take a position again. Either way I think that long term this is a very good investment, Suzy is an excellent Scientist first and CEO second - and investors should do just fine.

Easyp, Hurricane likely need the cash from this offload before they can officially make the announcement that they will pay off the Bond Holders - this could be as early as next week. Then once the BHs are history - we should see the extention of the FPSO charter announced. Drilling the GWA is then got to be our next priority and with Cash in the kitty, the OGA will now have no grounds not to amend the GWA licence conditions (probably a 6 month extention to drill or drop). I expect Hurricane now be in the market for a drilling rig for Q3. Either that or to have a buyer for the Company.

It has been RNS'd guys. Looks like an interesting partnership with Roslin.

Or Dana

I suspect that Gas Flaring consent will be extended as required. I have no concerns about producing below the BP and suspect that the Company have it all covered - CrS and BW must be more than confident on this as well.
With the bonds soon to be history and no Bond Interest to be paid, the cash will start piling up. Next weeks offload and the following one should mean that Hurricane can self fund the next drill if that's what they want to do - so maybe keep an eye on Diamond Drilling Rigs (they have a couple warm stacked) including, from memory, the Great-White which they will want working, even at a reduced rate. Or more likely Hur will get a slot for a floater already mobilising to the North Sea on a different contract - Island Inovator for example- which is possibly getting dusted off for some Petrofac?? work scopes. ;-)

Thats as positive as Maris has ever been - probably through gritted teeth. Big Bear - the AM offloads when her tanks are nearly full, which will be in the next 10 days - provided this is scheduled before month-end then the the way the contract is set up, up they will recieve top dollar for the offload.

Thats as positive as Maris has ever been - probably through gritted teeth. Big Bear - the AM offloads when her tanks are nearly full, which will be in the next 10 days - provided this is scheduled before month the the way the contract is set up end then they will recieve top dollar for the offload.

It is nearly unbelievable that Colin King and the BoD could actually be so incompetent and submit without checking and double checking - the current CEO was part of this set-up and has, in my opinion also been completely clueless and useless - which was confirmed by the abysmal interview the three gave last week or the week before - and why is it taking so long to get the answers to the questions investors submitted. I am not invested here and thankfully haven't been for a while - but still cannot believe the level of incompetence shown by the current and past directors.

Personally I really cannot see under any circumstances where CRS would take over Hurricane - its not what they do, its not what they know - they may facilitate a takeover and even already have a buyer lined up, but it won't be themselves - they are just not set up at all to run a Company in this sector, or any other sector for that matter - Odds of 50-1 for RB putting in a bid..
6 months ago, I would have said that BP and Shell were way out of the running - I would still be very surprised if they come in at this time but you never know - the events in Europe over the last few weeks may mean they refocus on production closer to home - Odds of 20-1
If a TO is actually on the cards it will be Mid Tier Company or Private Equity - Odds of 5-1.
I think that what we will see first will be the long awaited extention to the FPSO contract - that alone should get the SP really moving - but if it comes with a forward plan which involves a drilling rig and a gas flaring solution then that may be everybit as lucrative to investors as any potential takeover.
All speculative nonsense on my part ;-) but you never know.

Add the very next trade (15081) to the 484919 and you have your three 500k trades - 2 buys and a sell going through at the same time used to be though to be standard for a short closing.

*Tigra* - sorry spellchecker.

Tiara, thanks for the reply and info - so potentially a long-game but not the end-game.
More importantly let's hope for a quick end to the conflict - far too many Russian and Ukrainian lives lost already.

Could Putin Nationalise the assets here or suspend/withdraw he licenses that EUA have been granted. Genuine question so appreciate genuine answers.